Quarterly revenues up for Nike, but earnings fall
01/10/2012
Nike said it had experienced strong demand for its products and that this had “propelled first quarter revenue to new record highs”. However, margins were lower and selling, general and administrative expenses were higher.
“We had a strong first quarter and a great start to the fiscal year,” said chief executive, Mark Parker. “Nike delivered an amazing array of innovation across some of the biggest moments in sport. Innovation is how great companies sustain growth and build competitive separation.”
Revenues increased by 10% compared to the same quarter last year to reach $ 6.7 billion, with growth in “all key categories and every geography” except Japan. Net income for the quarter decreased by 12% to $567 million.
The company said orders for its athletic footwear and apparel, scheduled for delivery between September 2012 and January 2013, have a value of $8.9 billion, 6% higher than future orders reported for the same period last year.
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